osaycanuthink

occasionally caustic diatribes

Friday, June 03, 2011

Do It Right

Save for your retirement . You will have a nest egg to draw interest from and with social security enough to be comfortable and perhaps leave something for your kids..Well, I didn't expect the concantation of circumstances that have arrived through the present adminstrations economic policies. Where one presumed a modest return, say five percent on my cds. We now look at one percent as a result of the effort to hold down federal interest costs and perhaps encourage business and home ownership.. How many retired peoople are losing their homes because of these artificial rates. Imagine someone retiring on 20,000 social security payment with a nest egg of 500,000 on which the expected return was 25,000 puts them at a comfortable 45,000 a year.. but at a return of 5000 they can't make mortgage payments.. The result is if one has heeded government advice to be prudent you have been stung.. Those who were wastrel were right .. The grasshopper has defeated the ant